{"id":3702,"date":"2022-09-30T12:00:00","date_gmt":"2022-09-30T17:00:00","guid":{"rendered":"https:\/\/financialdesignstudio.com\/?p=3702"},"modified":"2022-10-03T13:42:01","modified_gmt":"2022-10-03T18:42:01","slug":"filling-out-the-fafsa-getting-your-fsa-id","status":"publish","type":"post","link":"https:\/\/financialdesignstudio.com\/filling-out-the-fafsa-getting-your-fsa-id\/","title":{"rendered":"Filling Out The FAFSA: Getting Your FSA ID"},"content":{"rendered":"

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With the start of the 2023-2024 college application season coming up on October 1st, we\u2019ve created a 2-part series called \u201cFilling out the FAFSA\u201d to guide you through the process. This post will help you understand what FAFSA is and why it\u2019s important to fill it out. Specifically, this post is about getting an FSA ID for FAFSA.<\/p>\n

What Is FAFSA?<\/strong><\/h2>\n

As mentioned in our FAFSA FAQ #1 Video<\/a>, FAFSA stands for \u201cFree Application for Federal Student Aid.\u201d By filling out the FAFSA, your child becomes eligible to receive Federal student aid in the form of loans, grants, work-study programs.<\/p>\n

College is expensive these days, and these federal aid programs are designed to help families reduce the cost of attending college. Families that are in need can qualify for what\u2019s called a GRANT, which is a form of financial aid the student doesn\u2019t have to pay back (free money!).<\/p>\n

Additionally, filling out the FAFSA opens the door to obtaining Federal student loans, which tend to be cheaper than private student loans and qualify for loan forgiveness programs. Obviously, you want to be careful having your child take out student loans, as they can become a crushing burden for them after they graduate. But these Federal loans can help bridge the gap between money saved up to pay for college and the ultimate cost of sending your child to college.<\/p>\n